In addition to its 34.1% weight to financial stocks, EWI allocates 17.7% of its weight to the energy sector and over 16% to utilities stocks. Industrial and consumer discretionary names combine for over 26% of the fund’s roster. EWI holds just 24 stocks.
EWI, which has nearly $756 million in assets under management, has a three-year standard deviation of almost 19%, but Italian stocks are inexpensive to other major developed markets, including the U.S.
“Manufacturing sentiment was little changed in November, slipping slightly to 110.8 from 110.9 the month before, Istat report showed. The latest data on industrial output, orders and sales signaled the risk of slowdown in the final months of the year,” according to Bloomberg.
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